Enterprise Risk Management (ERM) concepts can help retailers create a competitive advantage out of the business of managing risk. ERM’s “portfolio view” collects all risk and mitigation activity into a single Risk Register. This enables management to coordinate mitigation efforts across functions, rather than leaving risk to be managed in a patchwork fashion among various pockets in the organization. These are the critical areas for retail organizations where embracing an ERM approach adds value and opportunities that would likely otherwise be “missed:”
Topics: Cyber Breach, Cyber Risk, Data Breach, Enterprise Risk Management (ERM), Enterprise Risk Management, Enterprise Risk Management, ERM, Reputational Risk, Retail Risk Management, Risk management, Risk Management Assessment, Risk Management Blog, Risk Register, Social Media Risk
In today’s ever changing global economy and with the increase of just-in-time inventory, mitigating supply chain risk is vital to an organization’s survival. Supply chain risk is one of the top 10 business risks that senior leadership faces.
Topics: Enterprise Risk Management, Retail Risk Management, Risk Management Assessment, Supply Chain Risk, Total Cost of Risk (TCoR)